[ad_1]
"Voutia" has marked the primary surplus of the state budget in the 2018 semester, although the state does not pay its debts, nor the public investment that would bring development to the country . On the other hand, the other source of growth, namely private sector consumption, is extremely low to revive the economy.
According to the budget execution figures announced yesterday by the Treasury, there is a primary surplus of 617 million euros.
However, it is a "magic image" because:
– Expenditures for the public investment program (PPP) were increased by 41.5% in surplus. Only 956 million euros (or 1 billion euros) were spent, while in the medium term, voted for 1 month (June 20), the goal was to spend 1,635 billion euros. If the state had realized this investment expense, it would have provided an additional 679 million euros. That is, it would not have a primary surplus of 617 million euros but a deficit of 62 million euros, for this reason alone.
– The primary surplus has fallen, since it was 1.525 billion euros in May and 8.5 higher than the December budget target (180 million euros). ). In June, it dropped to 908 million euros or -59.5% in one month, to 617 million euros.
– Even worse, in the medium term voted in June, the objective of the first result shows that the Ministry of Finance expected deficit (non-surplus) of 465 million euros. Indeed, the mid-term review of June revises the government's budget forecast for a surplus of only 1,769 billion euros, instead of the 4,257 billion estimated in December. Six months after the vote of the state budget, the primary surplus will decline by 2.5 billion euros
However, this loss of 2.5 billion euros or 58 , 4% primary surplus is less than half the target) seems to have an explanation:
– The taxman will not have the expected revenue from the Treasury: six months' tax revenues were higher by 169 million more than the target (22,719 instead of 22,250 billion estimated in June), but for the year 2018, the chedon 1 billion. less income tax euro compared to what was originally planned. Indeed, it forecasts a turnover down 354 million euros (47,522 billion euros last year in December for 47,876) and 756 million euros in additional tax refunds (4.4 billion instead of 3.76 billion).
This decline actually reflects a decline in reported taxable household income (-163 million for 2018) and private consumption as a whole (-147 million from transaction taxes and -166 million from 39, excise)
Who pays the "marble"
As long as the EDP "freezes", they both "deflate" (+ 75% of the 580 million) Budgeted in December), but in June the overrun dropped by 90% (to 46 million
In addition to the public investment program, the "big scissors" have generally decreased in budget spending. the state for the period January-June 2018 to 24.278 billion euros and decreased by 800 million euros against the target (25 078 billion euros). decrease of 122 million euros, ordinary budget expenditure amounted to 23,321 million euros, mainly due to the reduction of 165 million euros in public health expenditure for hospital and YSF grants.
The financing aims to exceed the revenues of ENFIA (3,139 million euros of property tax against a provision of 3100 million euros a year ago)
At the same time, economic staff has revised downward its forecasts for nominal GDP billion (or p (1969002), while the growth and primary surplus of the public sector "tight" (state budget) are shrinking, the government predicts that the country's budget deficit will reach 182.959 billion in June .The total primary surplus (with the broader public sector) of 6.510 billion euros or 3.56%, or 0.06 billion % or 107 million euros above the target of 6.404 billion or 3.5% of the memorandum 19659002] More precisely, in the 1.769 billion surplus of the "tight" public sector, the economic staff also counts (EFCA – ETEAP) of 1 809 billion euros, hospitals and PEDI (with an "increase" in expenditure s health) of 150 million euros and local authorities of 482 million euros.
[ad_2]
Source link
